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Mortgage rates today for 30- and 15-year fixed loans and 5/1 ARMs all fell by one basis point, according to a NerdWallet survey of current mortgage rates published by national lenders on Thursday morning.

“Newly listed properties are being snatched up quickly so far this year and leaving behind minimal choices for buyers trying to reach the market,” Yun said. “A growing share of homeowners in NAR’s first-quarter HOME survey said now is a good time to sell, but until an increase in listings actually occurs, home prices will continue to move hastily.”

In fact, the median price for existing homes rose in February to $228,400, an increase of 7.7% from $212,100 in February 2016. It’s the fastest price increase since January 2016 (8.1%), NAR reported.

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

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